A cross-border team at Herbert Smith Freehills, spanning the firm's London, Paris and Madrid offices, has advised Photobox Group on its proposed sale to Exponent Private Equity and Electra Partners.
Photobox Group, parent of such well-known brands as PhotoBox, Moonpig, PaperShaker, Sticky9, Hofmann, Posterjack and posterXXL, is Europe’s leading digital consumer service for personalised products and gifts, with market leading positions in the UK, France, Spain and Germany.
The Herbert Smith Freehills team advising Photobox Group was led by London corporate partners Ben Ward and Chris Haynes, assisted by senior associates John Taylor and Bradley Richardson and associate Thomas Vaughan. In Paris, partners Eglantine Lioret and Emma Röhsler advised on French tax and employment matters respectively. The firm's Madrid office also provided assistance.
As legal adviser to Photobox Group, the team handled all sell-side aspects of the deal including the auction process and vendor due diligence.
Herbert Smith Freehills has previously advised Photobox Group on its acquisition of Hofmann, the Spanish photo album designer and printer, as well as in relation to the financing for the acquisition of photo-service-provider poster XXL.
Ben commented: "It was a pleasure to advise a respected client like Photobox Group on this important transaction which will position them to achieve organic growth internationally and to cement their position in Europe."
Chris commented: "TMT is an extremely hot sector at the moment and we have seen a lot of private equity interest in TMT companies as well as IPO exits. We expect to see further M&A and IPO activity in the coming quarters."
Allen & Overy acted for Exponent and Electra Partners; Macfarlanes for the Photobox Group management team; and Dechert for certain Photobox Group shareholders.
About Herbert Smith Freehills
Operating from 23 offices across Asia Pacific, EMEA and North America, Herbert Smith Freehills is at the heart of the new global business landscape providing premium quality, full-service legal advice. We provide many of the world’s most important organisations with access to market-leading dispute resolution, projects and transactional legal advice, combined with expertise in a number of global industry sectors, including energy, natural resources, infrastructure and financial services. www.herbertsmithfreehills.com